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At a time when analysts are busy discussing regulatory challenges for ETFs, crypto exchange dYdX's (DYDX) recent roadmap for 2024 puts the focus back on how DeFi can democratize access to blockchain-driven assets.
The platform's roadmap stresses on improving its software and reducing friction due to governance parameters for market listings. It has three focus areas – creating a permissionless DeFi market, trading improvements, and upgrading its onboarding experience.
Apart from dYdX, two other altcoins that have been news are Chainlink (LINK) and InQubeta (QUBE). While Chainlink is a decentralized computing platform for offering tools for developers, InQubeta helps startups connect with investors interested in backing AI-led projects.
InQubeta's price rally comes after its presale success last year which helped it climb higher in analysts' best cryptocurrency ICO lists. Its current presale funding stands at $9.6 million. Market experts have claimed that it has the potential to grow by 200X in the coming months.
One of the top reasons why the QUBE token deserves the attention that it's getting is its deflationary model. The feature is hailed because it can enable the asset to sail smoothly when the markets are volatile.
Under adverse market conditions like inflation, the deflationary mechanism restricts the token supply, so even if the demand is high it becomes difficult to acquire it. The scarcity drives up the value of the token and curbs price fluctuations.
It's one of the best cryptocurrencies to buy in today's market and has a supply of 1.5 billion.
To ensure that the platform keeps up with the times, the InQubeta team encourages community members to pitch upgrades or changes that could improve the protocol's capabilities.
As InQubeta is a decentralized platform, any such suggestions need to be approved by token holders who have voting privileges for the purpose. Depending on the outcome of the voting process, it's determined if a proposal should be implemented.
dYdX is an altcoin that can end your concerns about what cryptos to buy now. It's a crypto exchange that offers advantages like low fees, up to 20x buying power, and deep liquidity. Its native token DYDX is used for all transactions, be it buy, sell, or swap.
It has released a roadmap for 2024 where it aims to make market listings seamless through reduced friction in governance requirements and work on its software. The roadmap also seeks to improve core trading on the exchange and create permissionless markets.
In a recent development, the exchange announced that during its Launch Incentives Season 1, Chaos Labs distributed rewards worth $5 million among its traders. Traders who have received DYDX tokens as rewards can even liquid-stake their rewards.
Chainlink is a decentralized platform offering cutting-edge Web 3.0 solutions for developers. It provides developers a chance to unleash their creativity with world-class experience across blockchains, documentation, workshops, and in-depth tutorials. All transactions on the platform are conducted in terms of its native token LINK.
The LINK token hit the headlines recently after a mysterious whale aggressively accumulated their holdings amounting to $83.6 million. The transactions sent the LINK price soaring and were spotted by Lookonchain on February 10, 2024.
The whale used 55 new wallets on Binance over five days and accumulated 4.56 million LINK tokens.
The news also offered a breather from market's fascination with the legal aspects of BTC ETFs. The Bitcoin ETFs were introduced in the US markets in January after a long wait.
If you are looking for altcoins to watch out for this year, dYdX, Chainlink, and InQubeta might be the right additions to your list. These three cryptocurrencies have posted uninterrupted growth trajectories, despite market upheavals. Their growth potential and unique utilities have attracted many buyers.
They also sport security frameworks that meet international guidelines and have been reviewed by some of the best blockchain audit companies of the world.
However, cryptocurrency users should carefully research a project before investing.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
